Issuers Credit Rating

Below is a table setting out issuers' current credit ratings awarded by the Exchange recognized rating agencies – (i) Moody's; and (ii) Standard and Poor's (S&P). The table will generally be updated after market close when there is a change of credit rating notified by the issuer. Users should refer to real-time information services for the latest ratings.

Please note that the creditworthiness of the issuer and its guarantor, among other things should be considered carefully before dealing in structured products. Details of the risk factors and credit ratings can be found in the issuers' listing documents published on the HKEXnews website. Listing of structured products is governed by Chapter 15A of the Main Board Listing Rules.

No.

Issuer Name

Guarantor Name

Credit Rating 1

Moody's

S&P

Based on credit rating requirement

1

Bank Vontobel AG

Vontobel Holding AG

A3

-

2

BNP Paribas Issuance B.V.

BNP Paribas

Aa3

A+

3

Citigroup Global Markets Europe AG

N/A

A1

A+

4

Credit Suisse AG

N/A

A1

A+

5

Goldman Sachs Structured Products (Asia) Limited

The Goldman Sachs Group, Inc

A3

BBB+

6

The Hongkong and Shanghai Banking Corporation Limited

N/A

Aa3

AA-

7

J.P. Morgan Structured Products B.V.

JPMorgan Chase Bank, National Association

Aa2

A+

8

Macquarie Bank Limited

N/A

A2

A+

9

Morgan Stanley Asia Products Limited

Morgan Stanley

A3

BBB+

10

SG Issuer

Societe Generale

A1

A

11

UBS AG

N/A

Aa3

A+

Based on other regulatory requirements2

1

The Bank of East Asia, Limited

N/A

A3

A-

2

BOCI Asia Limited

N/A

-

-

3

Guotai Junan Securities (Hong Kong) Limited

N/A

-

-

4

Haitong International Securities Company Limited

N/A

-

-

Notes

If the structured product is a guaranteed issue, the rating shown is for the guarantor.

These issuers did not meet the credit rating requirement but relied on the other regulatory requirements in accordance with the Main Board Listing Rule 15A.13(2) & (3) when the Exchange approved its application as the structured product issuer.